Obama in the News
9-news reporter Jace Larson did a coverage on people who had purchased their home, lost it in foreclosure and then sold literally everything that was in that house from toilets to doors. My concern on stories like this is that 9-news did not do a full investigation to find out the whole truth. And in turn got this family kicked out sooner because the lender got a restraining order against them to stay away from the house. The questions come to mind – how long were the people in the house and how many payments were made? What did the lender do (if anything) to try and help them? Why would 9-news report a half-ass story? Could there be lenders (banks) that sponsor 9-news?
Obama went to speak with credit card CEO’s and this is truly sickening. AWESOME for Obama and I commend him for taking action on this – but these banks are outright lying %$@#$#@ who have the balls to go on the air and dare to say that people who do not pay their bills on time are the ones affecting the consumers who do. The fact of the matter is even the people who do pay their credit cards on time are being screwed by the credit card companies. Wachovia reported a rather large gain in profits this week and do we want to even know how they managed that? Could it be by charging illegal fines and fees to consumers who should not have had to pay this anyways? Obama wants the FTC (Federal Trade Commission) to regulate credit card companies but this will not do a bit of good. The FTC regulates the three major credit reporting agencies Trans Union, Equifax and Experian. Need I say more of how this will not bring about any more regulation then there already is?
Consumers truly are not stupid by any means – but they are misinformed and uneducated. You need to know the truth and listening to the credit card companies or banks will not get you the truth. I am going to start making posts letting all consumers know what the truth is and you can take it or leave it.